Russia’s top lender Sberbank will consider diversification of sources of liabilities in Chinese yuan as it enhances cooperation with a number of Chinese banks, a representative of the bank’s press service told TASS Thursday.
Particularly, the cooperation is aimed at lending out yuan to Russian corporate borrowers, the source said.
“As this business area develops Sberbank will be looking into diversification of sources of liabilities in Chinese yuan, for example, via issue of bonds in this currency,” the source said.
In February 2014, Sberbank issued 10-year subordinated euro bonds worth $1 bln with the interest rate of 5.5% per annum.